Sasol fell sharply when news surfaced of further overspending at its Lake Charles facility in Louisiana. But, with oil on the rebound, it might be a good time to buy the stock at these new lows.
As you can see from the above chart, there is a big gap between price on 21 May 2019 and 22 May 2019. In technical circles, there is a common saying: The price always...
Sasol once again reaching long term support at 35400 levels and holding. This could be an opportunity if support continues to hold to keep for the longer term. Top of the consolidation range is 48900. If Sasol breaks bottom support, stick to a stop loss.
So, Sasol’s R357 support held up and between it being oversold (according to it’s 14-day RSI) and have Rand weakness, made a nice little bounce. Will watch that long-term support line at R383.50 as my first target. Should that break, it could see us test the next resistance level of R405.50.
In one fail swoop, Sasol not only dropping 13% in one day, but also broke a very strong support line at R383.50. Main reason was the Lake Charles Project not only seriously going over budget, but also starting to look like the Never-Ending Story. Debt levels are becoming a serious concern and although the lowish PE multiple, the outlook still doesn’t look good....
Call me crazy, but today's Sasol shocker provides an excellent trading opportunity. Today's "flash crash" has taken the price back down to a monster support level and I really think this is one for the punters. If fortune truly does favor the brave, then I should be just fine. I have bought this support level for a bounce back above R400.00 and I wouldn't be...
This stock is moving in a downtrend, and the weekly timeframe shows a possible right shoulder forming. A break of the neckline on this weekly timeframe will signal further bearish momentum. On the 1-hour timeframe, price are trickling down as the momentary uptrend has finished and prices are below that ascending trendline, forming a series of lower highs and lower...
SOL has reached the R440 Support - Retraction Confirmation here will indicate (CUP and Handle) handle downtrend STOP -----followed by an uptrend towards resistance to complete handle.
Breaking through R440 support level may lead to a fall towards next support of around R385.
Just hang in and then decide to go LONG or SHORT
SOL H4 (240 Minute) Timeframe
Reasons For Entry :
- Trendline Breakout
- Bullish Channel Breakout
- QML Target
Everything Good Yearns Patience And Time
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Sasol has broken down from the strong upward channel that has been in place since February of this year. In addition, it has also failed to make any progress above the 200 day moving average which makes this technical structure look very shaky. There is some strong support between R385-R400 should we get there in the weeks ahead which could potentially be a good...